6.3 \*\*Loss of an Engine\*\*. Upon an Event of Loss with respect to any Engine
(as applicable, a \*\*“Lost Item”\*\* ), but not the Airframe, Lessee shall give
Lessor prompt written notice thereof, and within thirty (30) days after the
occurrence of such Event of Loss replace such Lost Item with a Permitted
Replacement by complying with the provisions of this Section 6.3. Any engine
or auxiliary power unit constituting a “ \*\*Permitted Replacement\*\* ” for a
Lost Item shall (i) be of the same make and model number as the Lost Item,
(ii) be free and clear of all Liens and (iii) have a value, utility and useful
life at least equal to, and be in as good an operating condition as, the Lost
Item, assuming such Lost Item was in the condition and repair required by the
terms hereof immediately prior to the occurrence of such Event of Loss.
Lessee, at its own cost and expense, shall (i) furnish Lessor with such
documents to evidence such replacement, (ii) cause Lessor to have good and
marketable title to the Permitted Replacement, and subject to the Lessor’s
Interest under this Lease, and (iii) take such other actions as may be
required by Lessor to cause the Lessor’s Interest in such Permitted
Replacement to be validly created and have first priority, including as
evidenced on the FAA Registry, the International Registry, and any other
recording office. Each such Permitted Replacement shall, after such
conveyance, be deemed an “Engine” and shall be deemed part of the same
Aircraft as was the Lost Item replaced thereby. Upon full compliance by Lessee
with the terms of this paragraph, Lessor will transfer to Lessee all of